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Indian Companies Invested Over $4 Billion in South Africa, says CII

According to the report, leading Indian companies such as Wipro, state-run Coal India, Cipla, Jindal Steel and Power, Mahindra and Mahindra have recently made investments in South Africa.

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PwC Chief Executive (Southern Africa) Dion Shango said:
Companies, representational image, Pixabay

Indian companies have invested over $4 billion in South Africa and created 18,000 direct jobs in the continent’s biggest economy, the Confederation of Indian Industry (CII) said on Sunday

According to a new CII report “Indian Industry’s Inclusive Footprint in South Africa – Doing business, doing good”, prepared jointly with British advisory multinational Pricewaterhouse Coopers (PwC), there are 140 Indian companies operating in South Africa whose contributions go beyond foreign direct investment (FDI) in the country, and include key CSR and skill development initiatives.

“Indian companies operating in South Africa are not just investing funds and creating jobs, but are actively contributing to the upliftment of the communities in which they operate,” a CII release said here.

According to the report, leading Indian companies such as Wipro, state-run Coal India, Cipla, Jindal Steel and Power, Mahindra and Mahindra have recently made investments in South Africa.

According to the report, leading Indian companies such as Wipro, state-run Coal India, Cipla, Jindal Steel and Power, Mahindra and Mahindra have recently made investments in South Africa.
Indian companies invest in South Africa, pixabay

“In the healthcare sector, the entry of Indian pharma companies Ranbaxy and Cipla brought in drastic reduction in the cost of anti-retroviral drugs in South Africa, saving thousands of lives. Indian companies are taking steps to transfer skills to South Africans, particularly in the IT sector,” it said.

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In a statement, CII Director General Chandrajit Banerjee said: “The report highlights the journey of the historic and economic relationship between India and South Africa, looking at the key sectors where Indian companies are thriving.”

PwC Chief Executive (Southern Africa) Dion Shango said: “Indian companies are demonstrating their commitment to sustainable development in South Africa across education and healthcare schemes to job creation, agricultural projects and empowering women.”

A focus on ethical business practice comes through in the report, as this is of critical importance for Indian companies operating in South Africa, the statement added. (IANS)

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More Than 76% Indian Companies Hit by Cyber Attacks in Year 2018

More than 18 per cent threats discovered in India are on mobile devices, which is almost double than the global average

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cyberattack
Image source: wordpress.com

Over 76 per cent organisations in India were hit by cyber attacks in 2018 as IT security continued to be a major issue across the globe, global cyber security major Sophos said on Wednesday.

According to Sophos’ “7 Uncomfortable Truths of Endpoint Security” survey, IT managers are more likely to catch cyber criminals on their organisation’s servers and networks than anywhere else.

IT managers discovered 39 per cent of their most significant cyber attacks on their organisation’s servers and 34.5 per cent on its networks.

The survey was conducted on 3,000 IT decision-makers from mid-sized businesses in 12 countries including the US, Canada, Mexico, Colombia, Brazil, the UK, France, Germany, Australia, Japan, India and South Africa.

Cyberattacks
An employee works near screens in the virus lab at the headquarters of Russian cybersecurity company Kaspersky Labs in Moscow, July 29, 2013. VOA

More than 18 per cent threats discovered in India are on mobile devices, which is almost double than the global average.

Also, 92 per cent Indian IT managers wished they had a stronger team in place to properly detect, investigate and respond to security incidents.

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“Server security stakes are at an all-time high with servers being used to store financial, employee, proprietary and other sensitive data. Today, IT managers need to focus on protecting business-critical servers to stop cyber criminals from getting on to the network,” Sunil Sharma, Managing Director, Sales at Sophos India and SAARC, said in a statement.

“They can’t ignore endpoints because most cyber attacks start there, yet a higher than expected amount of IT managers still can’t identify how threats are getting into the system and when.” (IANS)